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Tehran Signals Defiance as Supreme Leader Vows Retaliation and Strait Closure

  A man holds a picture of Iran's new supreme leader, Mojtaba Khamenei, while people attend a funeral ceremony for the Iranian military commanders who were killed in strikes, in Tehran Iran’s Supreme Leader issued his first public remarks following the deaths of senior Iranian commanders, vowing that the country will “avenge the martyrs” and maintain the closure of the strategic Strait of Hormuz until what he described as “justice” is served. His comments, delivered during a nationally broadcast address, underscore a sharp escalation in rhetoric at a moment of heightened regional tension. The Supreme Leader framed the recent losses as sacrifices in the defense of Iran’s sovereignty, promising that those responsible “will face consequences.” He also reaffirmed Iran’s decision to keep the Strait closed, a move that has already disrupted global shipping routes and rattled energy markets. The strait, one of the world’s most critical chokepoints for oil transport, has long been a flas...
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AI Fever Drives U.S. Stocks to Record Highs Amid Inflation and Rate Cut Hopes

 


The U.S. stock market continued its upward trend on Monday, reaching new record highs amid optimism about the cooling inflation, the possibility of interest rate cuts, and the resilience of the U.S. economy. However, the gains were modest as investors awaited a busy week of economic data and corporate earnings.

The S&P 500 index edged 0.1% lower in early trading, after setting its latest all-time high this year and its 16th winning week in the last 18. The Dow Jones Industrial Average fell 145 points, or 0.4%, while the Nasdaq composite slipped 0.1%.

One of the main drivers of the market rally was the artificial-intelligence (AI) sector, which has seen some stocks soar to astronomical levels. Super Micro Computer, a provider of server and storage systems for AI and other computing, jumped another 18.7% on Monday, after more than tripling in 2024 and 2023. The company announced that it will join the S&P 500 index of the biggest U.S. stocks on March 18, replacing Whirlpool, which has been struggling with weak demand and trade tensions.

Another AI star was Nvidia, whose chips are powering much of the move into AI. The company rose another 3.7% on Monday, bringing its gain for the year so far to 72.2%, after more than tripling in 2023. The company has been benefiting from strong demand for its products in gaming, data centers, and autonomous vehicles.

However, some analysts warned that the market may be getting too euphoric about AI, creating a potential bubble that could burst. Savita Subramanian, equity strategist at Bank of America, said that the market is “euphoric on AI” and that "bull markets end with euphoria."

The market also faced some headwinds from the global front, as Turkey’s inflation surged to a 15-month high, raising concerns about the stability of the emerging market. Meanwhile, the European Union and the United Kingdom were locked in a dispute over vaccine exports, threatening to escalate trade tensions amid the pandemic.

Investors will be closely watching the upcoming economic reports and earnings releases this week, which could provide more clues about the health of the economy and the corporate sector. Some of the key events include the consumer price index, the retail sales, the industrial production, and the Federal Reserve’s policy meeting. Some of the major companies reporting earnings include JPMorgan Chase, Goldman Sachs, Netflix, and PepsiCo.

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